October 31, 2018, Hong Kong – Hospitality real estate private equity firm Conduit House announced that together with Dasar Prisma Sdn Bhd will develop a hotel and branded residences in the beach and holiday destination of Port Dickson, Malaysia. The 250,000 square meter site, fronting the Strait of Malacca and offering breathtaking views, offers a rich variety of bird life and fauna. The site is within an hour ́s drive from Kuala Lumpur via Lebuhraya Utara-Selatan/E2, a 90 minute drive to Malacca via via Lebuhraya Utara-Selatan/AH2/E2 and a 4 hour drive from Singapore via AH2.
Upmarket branded residences in Malaysia have become an important component of the property market. Branded residences provide a point of differentiation and a basis for price premiums – managed by branded hotel operators with attractive full-furnished designs and high-quality services including a rental agreement option to assist owners with the rental of their residence.
Conduit House is currently working with JLL Property Services (Malaysia) Sdn Bhd on an in-depth market study and feasibility on the project. The development plan would offer buyers a 15 years Leaseback Program with the initial three years providing a guaranteed market competitive return with 10 nights free stay per annum for 15 years.
Over the coming months, the venture will be looking to appoint an internationally recognized architect and an interior design firm to lead the development of the proposed 120 hotel rooms and 120 branded residences. The project is targeted to be launched to market by mid-2021.